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Thread: Why do you resign?
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[quote=WANHU,476744]Dear Laugh, 10 years is not insurance but Employee Provident Fund which can be withdrawn partially while in service, or withdraw fully when one reaches 55 years of age. For those who opted for pensionable scheme, they can only withdraw their own contribution (9%) while the government will take back its contribution of 11%. 10 years of contribution is not much, only 9% from the salary, say 1000, so 90 X 120 months (10 years) = 10800. That amount of money can only buy a motorcycle or a deposit for a car. Under the pension scheme, those working for 25 years will be given half of the basic salary, and those working for more than 30 years will get 60% of the last basic salary. Wan[/quote]
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